22nd Dec 2020 09:06
(Alliance News) - Building materials firm Grafton Group PLC on Tuesday announced its acquisition of Proline Architectural Hardware, a distributor of architectural ironmongery products for doors, for an undisclosed sum.
For 2019, Dublin-based Proline reported revenue of EUR10.8 million. The acquisition is conditional on approval from the Competition & Consumer Protection Commission in Ireland.
Proline supplies products for doors, including door locks, hinges and handles.
"Proline will bring specialist expertise to Grafton in the architectural ironmongery distribution segment in Ireland. It will also enable us to offer a broader range of products and services and to extend our customer base in this segment of the market. The acquisition of Proline is in line with our strategy of acquiring specialist high quality businesses that trade in complementary markets," said Chief Executive Officer Gavin Slark.
Shares in Grafton were up 1.8% at 925.00 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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